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The most recent financial statements for Summer Ty...

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The most recent financial statements for Summer Tyme, Inc., are shown here (Do not include the dollar sign ($). Round your answer to 2 decimal places. (e.g., 32.16)): Income Statement Balance Sheet Sales $4,200 Current assets $3,600 Current liabilities $2,100 Costs 3,300 Fixed assets 7,900 Long-term debt 3,650 Taxable income $900 Equity 5,750 Taxes (34%) 306 Total $11,500 Total $11,500 Net income $594 Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 40 percent dividend payout ratio. As with every other firm in its industry, next year's sales are projected to increase by exactly 15 percent. The external financing needed is For the year just ended, Ypsilanti Yak Yogurt shows an increase in its net fixed assets account of $645. The company took $190 in depreciation expense for the year. How much did the company spend on new fixed assets?

 

Paper#8840 | Written in 18-Jul-2015

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